Reexamining Sydney's market

By |

A lot of observations regarding the Sydney market have been made over time — from first home buyers' decreasing demand due to surging prices, to higher levels of investor ownership because of a slowdown in home ownership.

While these might be baffling or get too overwhelming for some people, My Housing Market Chief Economist Dr. Andrew Wilson has just the right words to describe what is happening to Sydney. He said that New South Wales’ capital is becoming an apartment city (modelled on New York), or can easily be called the "New York of the Southern Hemisphere."

In a chat with Dr. Wilson, he emphasised that now is the great time to buy a Sydney unit, specifically in areas with good infrastructure such as Badgery’s Creek. In addition, one can explore Parramatta, which is envisioned by all three levels of government as Sydney's second CBD. In fact, its potentials of becoming a breakaway city entity have been recently noticed by more people.

Sydney currently has the strongest economic migrants. Adding to this are other strong points of the city, including developers in the city that are ready to do deals, the unchanged strong demand, and the increased unit living, which are now preferred by the younger people.

When asked about places that investors should avoid, Dr. Wilson noted that this will depend on one's agenda. He mentioned though that higher priced Central, Eastern, Inner East, Inner West have a lower potential for growth.

Finally, he also highlighted that downsizing into a unit can be a good move, noting that the practice no longer signals the end of one’s property and wealth creation journey.

 

Related stories:
Reforms To End To Undisclosed Commissions
Capital Cities' Median House Price Falls

 

Do you have more than $200k in your super fund? You could use your super to buy property - Find out how

Top Suburbs : tuart hill , midland , murdoch , wiley park , stafford hts

go back

Get help with your investment property



Do you need help finding the right loan for your investment?


When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here